Time to cross Splinter Cell Conviction and Red Steel 2 off your Christmas list. Following a 50% decrease in sales for their first fiscal quarter, Ubisoft has decided to delay several key titles.

Splinter Cell and Red Steel 2, originally intended as 2009 holiday releases, will now hit stores between January and March 2010. The next Ghost Recon game and new IP I Am Alive are now slated for "2010/2011."

"We are currently experiencing a very sharp slowdown in our sales for Nintendo DS as well as sales of back catalogue titles, in the context of a market that is tougher than anticipated," said Ubisoft CEO Yves Guillemot. "We are disappointed that we have to postpone the release of several major games but we consider that this choice is the best one in the long term interests of Ubisoft."

Well, crap. That new Conviction trailer got me all excited for nothing.

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